I want to avoid spending money on: coffee I can make myself; fancy wine; overpriced drinks in bars; clothes I don’t need; nail salons that may or may not be supporting human trafficking; things I need to find storage for; any more bloody shoes.

"I'm going to stop spending money on coffee I could make myself." (Image: iStock)

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This will be a balancing act. I cannot guarantee to avoid Wittner for an entire calendar year. However, I will try my best. And I will NEVER pay full price there.

Speaking of…

2. Stop paying full price for things.

You only need to walk around the sales right now to know that Aussie retailers are addicted to discounting. Consumers want to spend less (because wage growth has stalled and we are highly indebted). But shops want us to spend more, so they keep making it more enticing.

You can take advantage of this by being organised. Not like spreadsheet organised – just using a bit of forethought. Think about what you know you need to buy, in advance, and then wait til it’s cheaper.

For instance, you already know how many weddings you’ll attend this year – if you want a new dress for each one, start looking now and buy on sale. (Alternatively, don’t be such a princess and wear an old one.)

Listen: How to teach kids the value of money. (Post continues after audio.)

If you get to the beginning of a new season and feel a deep need to update your wardrobe, do it now – at the end of summer – and save it for next summer. This week I pulled out a fresh new Victoria’s Secret bikini I bought in the US, in June. It cost me 30 bucks then, and I feel like a million dollars now.

In the supermarket, my stepmum says to buy things you need when they are on spesh, not when they run out. This is good advice, and it’s why she always has two of every expensive cleaning product (whereas I just shop at Aldi and buy the cheap stuff).

3. Learn something about money and investing.

Obviously you’re already reading Fierce Girl. Go you! But you can do more. Read the Money section of the newspaper. Buy a book about investing. Read some blogs or websites.

Basically, put your big girl boots on and take an interest, so that you can control your financial future. Don’t tell me it’s boring or hard or not your thing. We all have to do hard and boring things – but not all of them give you the chance to do something cool at the end, like go on holiday in Paris – AMIRIGHT?

'Put your big girl boots on and take an interest, so that you can control your financial future. ' Image via TV Land.

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4. Sort our your super.

It’s easy and fast and will make a big difference to your future. Start with these:

Roll multiple accounts into one.
Pick the right investment option for your age (it may not be the default one).
Set up salary sacrifices to make extra payments.
All of those things will make a decent difference to your retirement 30-40 years from now.

Super compounds and grows over a loooong time, so the things you do early on make a difference later. Small pain now, big gain later. There is a whole post I wrote on this, but if that’s too hard to read you could just call your super fund and get things moving.

5. Break a bad money habit.

Go on, pick one. The one I finally nailed in 2016 was to stop buying coffee every day. I literally spent years battling the siren song of frothy, milky, delicious flat whites. But for my health, wallet and size of my arse, I replaced it with black coffee in a plunger. And here’s what I can tell you: you get used to anything, and then, in the end, quite like it.

I know you have a bad habit. Maybe it’s online shopping in front of the TV. Maybe it’s buying clothes when you’re upset and stressed. Maybe it’s just buying far too much takeaway. Pick one thing, work out what the underlying driver is behind it, and devise a strategy to short-circuit it. I’m not a guru on behavioural change, but here’s a guy who is, and whom I love: James Clear – check him out and read his e-book.

6. Make friends with your bank.

I just opened a new account with St George. I already have three, but this was a new one called ‘Spending’ (you can name them). It’s where I allocate day-to-day, guilt-free spending money to. It’s great! It just helps me to mentally compartmentalise money. And nothing goes in there till the boring stuff has been done (bills, rent, savings – ugh).

St George has also upgraded the mobile app so it does a whole bunch of new stuff that makes life easier, like splitting bills. You should look at your own bank and what it offers to help you track and manage spending – and save more. Remember, it’s in your bank’s interest that you save money with them (so they can lend it to others). Make the the most of it and play around with the mobile app.

7. Sort out your head.

Ok, I just snuck this one in as a bonus. What I mean is that lots of negative behaviours with money are related to our mental health and happiness. Some people buy expensive things to prop up their self-esteem. Others avoid taking control of their money because it makes them feel dumb. Other people are just distracting themselves from the tedium or terror of the human condition.

You know what I mean. Think about what might be holding you back mentally or emotionally.

I have been reading The Subtle Art of Not Giving a Fuck by Mark Manson. It’s gloriously full of expletives, but it’s also full of realtalk that makes you think hard about your life choices. I highly recommend it as a starting point.

So, let’s make this year fierce and fantastic and a little bit financey.

Now go ahead and slay!

This article was originally published on The Fierce Girl's Guide to Finance and was republished here with full permission. To read the original article, go here. You can also follow The Fierce Girl's Guide to Finance on Facebook here.